This Week's Houston Deal Sheet
Misson Cos broke ground on Grand Corners II, a 24k SF tilt-wall office building in Katy.
The building is a sister to Misson Cos’ Entrust Building, which completed in 2013. Mission president David Nelson says the first building was quickly leased up after delivery, and that strong demand spurred the team to build a second facility. NAI Partners’ Sam Hansen is leasing Phase 2 and says there are several tenants expressing interest in the new multi-tenant building. Arch-Con is the GC, Ziegler Cooper is architect, Brown & Gay and Pinnacle Structural Engineers are the civil and structural engineers, and Plains Capital Bank is the lender. Grand Corners II should deliver in May 2016.
EXECS
Stephen Lucy was named CEO of JQ, a structural and civil engineering firm. Founder Gary Jaster is retiring and has been planning this leadership transition for five years. Stephen co-opened the firm’s Dallas office in ’94.
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Ann Taylor, who has served as ULI Houston’s executive director for seven years, joined Midway Cos.
SALES
Caldwell Cos closed four land sales:
• Clay Roper and Keith Edwards repped the seller of 1.7 acres on FM 1960.
• Daniel Greco and Keith Edwards repped the seller of 12.5 acres on FM 1488 at Nichols Sawmill.
• Keith Grothaus repped the seller of three acres on West Road and Greenhouse in Towne Lake. It will be developed as a memory care facility.
• Clay Roper repped the buyer of 5.8 acres on Queenston.
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Caldwell Co’ Keith Edwards and Bill Ginder repped the buyer in four land transactions:
• 40 acres on West Road
• 20 acres on West Road
• 20 acres on Imperial Valley
• 15 acres on West Road
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MAT purchased a 22k SF office/warehouse at 5980 Harvey Wilson from SW Holdings. Southwest Realty Advisors’ Steven O’Connor and Marc Drumwright repped both parties.
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BVI Machining purchased an office/warehouse at 3116 Garrow St from B&A Estate. Southwest Realty Advisors’ Steven O’Connor and Justin McGee repped both parties.
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CKS Land Development purchased 4.5 acres at 5555 W Sam Houston Pkwy. The new owner will build itself a 55k SF corporate building, which will break ground in Q1. Colliers’ Marshall Clinkscales, Greg Cizik and Edward Edson repped the seller (Archway 5555 WSHT Ltd), and Northwinds Commercial Realty’s Dylan Schopper repped the buyer.
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Tuesday Morning inked two new leases: 14k SF at Champions Village and 12k SF at Westhill Village Shopping Center. Weingarten’s Brandon Schawe repped the landlord in both deals (Hines at Champions Village and Weingarten at Westhill), and Edge Realty’s Jonathan Hicks repped the tenant. Tuesday Morning is repositioning into higher-profile shopping centers with traditional junior anchor locations, Brandon says.
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CDP leased 11k SF of office/warehouse space in SWT Clinton Industrial Park. Southwest Realty Advisors’ Steven O’Connor and Justin McGee repped the tenant, and Colliers’ Walter Menuet repped landlord Southwest Texas Clinton Ltd.
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JSC leased 20k SF at 7218 Clinton Dr. SRA’s Steven O’Connor, Justin McGee and Marc Drumwright repped the tenant, and Boyd Commercial’s David Munson and Andy Sowell repped landlord GSL Partners Sub Twelve.
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TJ Maxx leased 22k SF in the Baytown Marketplace Shopping Center in Baytown. Edge Realty’s Culver Stedman repped the tenant, and Gulf Coast Commercial’s Danny Miller repped the landlord.
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Kormarine leased 10k SF at 12802 FM 529 from landlord ACS. SRA’s Steven O’Connor and Justin McGee repped both parties.
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ARC Designs & Manufacturing leased 30k SF in Waller Business Park. Colliers’ Walter Menuet and Tom Condon Jr. repped landlord Alegacy Development, and Cresa Houston’s Gary Lawless Jr. repped the tenant. The office/warehouse building has a 27k SF shop with four 20-ton cranes. It was built in ’13.
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McCarthy Building Cos will build the $39M upgrade of Barbours Cut Terminal’s Wharf 2. The project will upgrade the wharf to support the larger cranes that can accommodate post-Panamax vessels. Starting in January, McCarthy will upgrade 1,000 linear feet of wharf and construct a new stevedore support building. It will complete in early 2017. McCarthy finished Barbours Cut Wharf 1’s update in 2014.
THIS AND THAT
3040 Post Oak (in Lakes on Post Oak) achieved LEED EB: O&M Silver. The building has an Energy Star score of 93, placing it in the top 7% of comparable office buildings nationwide. CBRE has a building-wide renovation underway, including upgrading its operating efficiency and adding collaborative spaces like meeting rooms and a tenant lounge. The renovations will deliver in Q1.
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Katy Medical Plaza Phase 1 received LEED C&S Gold. The 150k SF MOB is the only building in Katy with a green roof; 95% of the base building’s room is covered in vegetation. Its operating expenses are 30% lower than the average Houston MOB, and 100% of its electricity comes through renewable power. The property is developed by Jacob White Construction and leased by Transwestern. Phase 2 will deliver this month and is expected to receive LEED Gold next year; Phase 3 is slated to break ground in Q4 ’16.
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717 Texas received LEED VC Platinum. Owner Hines rolled out the VC (volume cert) program in 2014 to ID uniformity and similarities across Hines’ LEED EB efforts to date. 33 of its properties have participated to date, and 22 have received certification. 717 Texas was completed in ’03. In ’09, it became the first office building in Houston’s CBD to get LEED cert, and in 2011 it was the only skyscraper in Texas to receive LEED Platinum. The 696k SF office tower was designed by HOK and has earned the Energy Star label nine times.
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Riverway Title Group, led by John Hammond, purchased Riverway Title. John will serve as the new president and CEO.
